What is a Co-op?

 

A cooperative (co-op) is a business that is collectively owned and managed by the people who use it, and it’s designed to meet the social, economic or cultural needs of its members. In a co-op members decide if profits will be reinvested back into the business and/or shared with members.

 

Types of Co-ops

  • Worker Co-op

    Owned and democratically governed by the workers

  • Consumer Co-op

    Owned by community members who buy goods or services from their co-op

  • Housing Co-op

    Housing Co-op

    Owned and democratically governed by the residents

  • Producer Co-op

    Owned by producers who unite to market or process their product

  • Purchasing Co-op

    Owned by individuals or businesses, that together can access cheaper goods

  • Hybrid Co-op

    Combination of co-op types, where people with common interests band together

7 Cooperative Principles

  • Principle 1: Democratic Member Control

    Members control their business by deciding how it’s run and who leads.

  • Principle 2: Education, Training and Information

    Co-ops provide education, training and information so their members can contribute effectively to the success of their co-op.

  • Principle 3: Cooperation among Collectively-owned Businesses

    Co-ops believe working together is the best strategy to empower their members and build a stronger co-op economy.

  • Principle 4: Concern for Community

    Co-ops are community-minded. They contribute to the sustainable development of their communities by sourcing and investing locally.

  • Principle 5: Voluntary and Open Membership

    Anyone can join a co-op -- they don’t discriminate based on gender, social, racial, political, religious factors.

  • Principle 6: Member Economic Participation

    All co-op members invest in their cooperative. This means people, not shareholders, benefit from a co-op’s profits.

  • Principle 7: Autonomy and Independence

    When making business deals or raising money, co-ops never compromise their autonomy or democratic member control.